Waystone appointed by Alger to support with ManCo and supplementary services

      • Waystone Luxembourg to provide third-party Management Company (ManCo) and supplementary services to Fred Alger Management (Alger) SICAV range under one umbrella
      • The partnership will add $600m to the Assets Under Management (AUM) of Waystone’s book

      Waystone announces strategic partnership with Alger to expand services and grow AUM

      Waystone, a leading provider of specialist services to the global asset management industry, has today announced it is partnering with Alger, a US-based growth equity asset manager, to support them with third-party ManCo and supplementary services across the EEA.

      The partnership will add $600m to Waystone’s AUM which continues to demonstrate robust growth as demand for its services increases. Waystone has expanded into new international markets over recent years, widening its comprehensive product suite.

      Alger, a pioneer of actively managed equity investing, is on a similar growth trajectory with their most recent acquisition of Redwood Investments, a global growth equity manager with more than $1.6bn in AUM, announced in January this year.

      Denis Harty, Country Head Continental Europe said “The third-party fund management market continues to evolve, with a particular focus on the ability of a provider like Waystone to deliver services globally in all major markets. We offer our clients a wide range of services including ManCo, distribution support and administration solutions. The relationship with Alger is one of true partnership. It’s fostered from the executive level right through to the team members and analysts at both firms, including colleagues from New York, Dublin, Cashel and Luxembourg all supporting the client experience. We look forward to a long-lasting relationship with Alger as they continue to grow and expand their client base.”

      Hal Liebes, COO at Alger, commented “It is great to work with Waystone, a company that is, like us, focused on growth and ongoing improvement of service to clients. We see Waystone as a partner who can support us with all our asset servicing requirements which is exactly what we were looking for. A company that has the experience and capabilities to deliver a range of services globally, to help us scale, grow, and offer the best products and services to our clients.”

      Waystone’s expanded services for Alger funds in Luxembourg

      Additional services Waystone will provide include risk and compliance services, distribution support, market access, global registrations, facilities agent services, along with a number of other supplementary services (Swiss representation and Solvency II) bringing all services under one umbrella for all Alger funds domiciled in Luxembourg.

      About Waystone

      Waystone is a leading provider of institutional governance, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide.

      With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now supporting asset managers with more than US$2Tn in AUM. Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.

      About Alger

      Founded in 1964, Alger is recognized as a pioneer of growth-style investment management. Privately-owned and headquartered in New York City, Alger can help “Unlock Your Growth Potential” through a suite of growth equity separate accounts, mutual funds, ETFs, and privately offered investment vehicles. Alger’s investment philosophy, discovering companies undergoing Positive Dynamic Change, has been in place for 60 years. For more information, please visit the Alger website.

      Media Enquiries

      Waystone press contact: Louise Green +44 (0) 7708 287947.

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